Half A Trillion Dollars?
“THE PROPHECY” IS COMING TRUE, PEOPLE
FITSNews – July 28, 2008 – While there’s some debate over who said it, there was a particular quote that popped into our heads when the news broke today that the federal deficit is projected to reach a record $490 billion this year – or $83 billion more than the Bush administration originally estimated just five months ago.
Anyway, here’s the quote:
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.
Talk about prophetic. America was founded 232 years ago as the “New Order of the Ages” (Novus ordo seclorum ), yet with a $9 trillion debt, a ballooning deficit and a new mortal enemy we can’t figure out how to defeat, we’re well on our way toward Roman Empire status.
Amazingly, against this backdrop of spiraling debts and deficits, impending Social Security and Medicare bankruptcy and an ill-conceived multi-billion dollar a year war, the ruling class in Washington seems dead set on blowing a few billion dollars more. Of course it’s hard to blame the Democrats in charge now, seeing as Republicans did the same exact shit when they were in power from 2001-2007. Remember, “Dubya” came into office seven years ago with a $128 billion surplus .
Damn … a dictatorship is starting to sound like a pretty good idea right about now. Particularly if it’s a benevolent one led by our own Sic Willie.
Comments
By reggie on July 28th, 2008 at 1:54 pm
is it just me, or is $83 billion just a tad bit off for a president…
By CL on July 28th, 2008 at 4:39 pm
I am no fan of deficit spending, and I think Bush has been a disaster on the budget, but as a percentage of GDP, the current deficit is not that historic. It is larger in actual dollars because of inflation and economic growth.
By Clay Pit Crew on July 28th, 2008 at 9:33 pm
Hyperinflation preceded government collapse, too.
By rick on July 29th, 2008 at 5:56 am
Debt is Debt….look who its owed to, what its tied to and like personal debt, it restricts the ability of government to give the owners(taxpayers) a reduced tax rate which accelerates economic growth, while inhibiting governments ability to react to unforeseen circumstances.
By Toyota Kawesaki on July 29th, 2008 at 7:34 am
Gov Moonbeam have you taken MANdys spot here now
By Silence Dogood on July 29th, 2008 at 11:44 pm
Well all this tells me is that we DEFINITELY need to keep spending 150-250 billion per year in Iraq and more 40 billion dollar AIDS packages to Europe. Nothing better than trying give gifts of democracy and AIDS research to others…but when you have to do it on your credit card, instead of seeming wise, generous and caring you are actually foolish, greedy and too apathetic exercise judgment.
Trackbacks